Financial Markets, Econometrics, Social Security, Pensions, Happiness


Dr. Joseph Friedman earned a Ph.D. in Economics from the University of California at Berkeley, an MA in Economics and a B.A. in Economics and Statistics from the Hebrew University of Jerusalem. He joined the faculty of Temple University in 1985, and served as the Chairman of the Finance Department for four years.

Dr. Friedman held visiting appointments at the University of Pennsylvania, the Technion – Israel Institute of Technology and Sofia University in Bulgaria, and was a faculty member at the Economics Department of Tel Aviv University. Before moving to academia he held research positions at Abt Associates, Inc., the Rand Corporation and the World Bank. His fields of interest include Finance, Macroeconomics, and Econometrics. Dr. Friedman served in the Israeli army as an officer at armored brigade.

Curriculum Vitae

Selected Publications


  • The Economics of Housing Vouchers, Academic Press, New York, NY, 1982. (with Weinberg).
  • The Great Housing Experiment, Co-Editor, Sage Publications, Beverly Hills, CA, 1983. (with Weinberg).

Papers in Academic Periodicals:

  • “Should Retirees Play the Social Security Lottery? An Analysis of the Reset Strategy,” Journal of Financial Service Professionals, 65 (1), January 2011, pp.74-79.
  • “The Downside Risk of Postponing Social Security Benefits,” Financial Services Review, 18, Winter 2010, pp. 283-94) . (with Phillips)
  • “The Portfolio Implications of Adding Social Security Private Account Options to Ongoing Investments,” Financial Services Review, 18, Winter 2009, pp. 333-353 . (with Phillips)
  • “Optimizing Social Security Benefit Initiation and Postponement Decisions: A Sequential Approach,” Financial Services Review, 17, Summer 2008, pp. 155-168. (with Phillips) *this paper received a “best paper award”
  • “European Stock Market Linkages: The Effect of the Adoption of the Euro as a Single Currency,” Alliance Journal of Business Research, 1, 2005, pp. 21-34. (with Shachmurove)
  • “University Technology Transfer: Do Incentives, Management, and Location Matter?” Journal of Technology Transfer, 2003, pp. 17-30. (with Silberman)
  • “An Examination of the Impact of Country Risk on the International Portfolio Selection Decision,” Global Finance Journal, 8, Summer 1997 (with Rajan)
  • “Co-movements of Major European Community Stock Markets: A Vector Autoregression Analysis,” Global Finance Journal, 7, Summer 1997 (with Shachmurove)
  • “Foreign Direct Investments: Factors affecting the location of Branch Plants”, Global Finance Journal, 7, Summer 1996, (with Gerlowski and Silberman)
  • “International Transmission of Innovations Among EC Stock Markets,” in Advances in International Stock Market Relationships and Interactions 1, Greenwood Publishing Group Inc., 1996, (with Shachmurove)
  • A note on “State Characteristics and the Location of Foreign Direct Investment Within the United States,” Review of Economics and Statistics, (June, 1996), pp. 367-368, (with Fung, Gerlowski and Silberman)
  • “Effects of Economic News on Intra-day Returns and Volatility in the U.S. and U.K. Equity Markets,” Journal of Banking and Finance, 19, (October 1995), pp. 1191-1210, (with Becker and Finnerty)
  • “International Transmission of Innovations Among EC Stock Markets,” in Advances in International Stock Market Relationships and Interactions 1, Greenwood Publishing Group Inc., 1996, (with Shachmurove)
  • “Should Technical Analysts Embrace the Arms Index?” Journal of Business and Economics Perspectives, Spring 1992, pp. 123-140,(With Becker).
  • “What Attracts Foreign Multinational Corporations: Evidence From Branch Plants Location in the United States,” Journal of Regional Science, November 1992, pp.403-418, (with Gerlowski and Silberman)
  • “Risk-Return Trade-off in Lending to Small Businesses: Case of Commercial Banks,” Advances in Small Business Financ,e 1, Kluwer Academic Publishers. 1991, pp. 121-137, (with Buck and Dunkelberg).
  • “Casino Gambling as a ‘Growth Pole’ Strategy,” Journal of Regional Science, 29, November 89, pp. 615-623. (with Hakim and Weinblatt)
  • “Police Expenditures, Crime and Learning by Doing,” American Journal of Economics and Sociology, 48, April 1989, pp. 177-191, (with Hakim and Speigel)
  • “The Demand for Tenure Security in Developing Countries,” Journal of Development Economics, 29, September 1988, pp. 185-198, (with Jimmenez and Mayo)
  • “The Effect of Community Size on the Mix of Private and Public Consumption of Police Services,” Journal of Urban Economics, 22, October 1987, pp.230-241, (with Hakim and Speigel) Friedman, April 2012 Page 5 of 6
  • “The interest in Deregulation,” American Economic Review, 76, June 1986, pp. 559-563. (with Cherkes and Spivak)
  • “Saving Behavior in Retirement When Life Horizon is Uncertain,” Economics Letters, 17, January 1985, pp. 63-66. (with Zilcha)
  • “The Experimental Housing Allowance Program: History and Overview,” Urban Affairs Annual Review, 24, 1983, pp. 11-22. (with Weinberg)
  • “The Effect of Rent Rebates and Housing Standards on Housing Consumption,” Urban Affairs Annual Review, 24, 1983, pp. 127-143. (with Weinberg)
  • “Housing Consumption Under a Constrained Income Transfer,” Journal of Urban Economics, 11, May 1982, pp. 253-271, (with Weinberg)
  • “The Demand for Rental Housing: Evidence from the Housing Allowance Demand Experiment,” Journal of Urban Economics, 9, May 1981, pp. 311-331. (with Weinberg)
  • “Intra-urban Residential Mobility: The Role of Market imperfection and Household Disequilibrium,” Journal of Urban Economics, 9, May 1981, pp.332-348. (with Mayo and Weinberg)
  • “A Conditional Logit Model of the Role of Local Public Services on Residential Choice,” Urban Studies, 18, October 1981, pp. 347-358.
  • “Assets of the Elderly as They Retire,” Social Security Bulletin, 44, January 1981, pp. 16-31. (with Sojgren)
  • “Housing Consumption Under Self Selection and Housing Requirements,” Evaluation Studies Review Annual, 5, 1981, pp. 436-447. (with Weinberg)

Courses Taught

  • Money and Banking
  • Intermediate Macroeconomics
  • Macroeconomics Principles
  • International Monetary Economics Financial Markets